UK Household spending beats expectations in January

UK household spending rose more than expected in January showing the UK consumer has taken heart from the increased level of certainty provided from a stronger UK government and the UK’s final departure from the EU. The numbers indicated a rise of 0.9% over last year which was higher than the forecasted rise of 0.7%. This announcement comes off the back of a strong employment figure for the UK in January which backs up TAM’s assessment that the UK economy is showing a more robust economic recovery than many were forecasting. This increase in consumption bodes well for domestic facing businesses and funds invested into them.